NAIROBI (Reuters) – Kenya will issue a new Eurobond in the next two to three months to raise $1 billion, part of its planned borrowing for this fiscal year, its finance minister said on Thursday.
The East African nation set a budget deficit of 7.5% of GDP in its 2021/22 (July-June) financial year, looking to fill it with both local and foreign borrowing.
Kenya made its last foray into the market last June, when it sold a $1 billion Eurobond that received orders just short of $6 billion.
While confirming the planned new issuance to Reuters, Finance Minister Ukur Yatani did not say which banks have been selected to act as lead arrangers for the issue, saying his team had not briefed him yet.
Kenya’s last issue was led by Citi and JPMorgan.
(Reporting by Duncan Miriri; Editing by Raissa Kasolowsky)
